Business Structure

A partnership is a business run by ...

• one person

• two or more people

• a government

People often start partnerships because...

• they don't have all the skills they need

• they want to be their own boss

• they want to work long hours

An advantage of a partnership is...

• there is not enough capital (money) to invest in the business

• there is more capital (money) to invest in the business

• the profit has to be shared

Another reason people start partnerships is because...

• they don't like being the boss

• they want to share the profit

• they need more ideas for the business

A sole trader means a business is run by...

• the government

• one individual person

• two or more people

One disadvantage of a sole trader is..

• the individual person has to work long hours

• they are their own boss

• they do not share the profit